Auditing

For news from the AICPA and state societies, visit www.cpa2biz.com , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites.

The Institute of Internal Auditors’ (IIA) Research Foundation issued a pair of reports on recent changes in audit committee practices ( www.theiia.org/iia/index.cfm?doc_id=4624 ). One discusses developments at publicly traded companies and the other addresses those at nonpublic organizations. Subjects covered in both contexts include modifications in the frequency and length of time audit committees meet, the topics they cover, their membership and the way the internal audit function supports them. The reports also offer suggestions on how internal audit executives can best work with the committees. While the foundation provided the reports as a service to IIA members, it also has made them available to nonmembers in return for a voluntary tax-deductible contribution.